Webjet completes institutional offer raising USD140m

Webjet announced (02-Apr-2020) the institutional component of its entitlement offer and institutional placement raised AUD231 million (USD140 million), with 90% of eligible institutional shareholders electing to take up their rights. The institutional placement was upsized by AUD14 million (USD8.5 million) and was significantly oversubscribed, with equity raising fully underwritten following strong demand from existing and new investors. Bain Capital Credit LP became a new shareholder, subscribing for AUD25 million (USD15.2 million) shares and agreeing to a potential commitment of up to an additional AUD65 million (USD39.4 million). The entitlement offer and the retail component of the entitlement offer is expected to raise AUD115 million (USD69.7 million) and together with the institutional placement, the equity raising is expected to raise a total of approximately AUD346 million (USD209.8 million). The retail entitlement offer opens on 08-Apr-2020. [more - original PR]